NRS 353.710: “Grant” defined. [Effective July 1, 2026.]

1. “Grant” means a legal instrument of financial assistance between a state grant-making entity and a private nonprofit corporation that is:

(a) Used to enter into a relationship for which the principal purpose is to transfer anything of value from the state grant-making entity to the private nonprofit corporation to carry out a public purpose authorized by law and not to acquire real property or services for the direct benefit or use of the state grant-making entity;

(b) Used to provide for one or more payments in reimbursement for services or other performance under the agreement on a scheduled or other incremental basis; and

(c) Distinguished from a cooperative agreement in that it does not provide for substantial involvement between the state grant-making entity and the private nonprofit corporation in carrying out the activity contemplated by the award.

2. The term does not include an instrument that provides only:

(a) Direct government cash assistance to a person;

(b) A subsidy;

(c) A loan;

(d) A loan guarantee;

(e) Insurance;

(f) State funding that is required annually and is calculated based on a formula set in statute; or

(g) Proceeds from a general obligation bond.